Swap duration – Schweser 1PM – Q44

@vincentt @ravivooda @Sophie‌

Given: The company enters into a 2 year swap with semi coupon payments to pay floating and receive fix. Question states duration of the fixed side of the swap is 1.2.

I calculated:

pay floating = -1/ 2 x 2 = – 0.25
receive fixed = 1.2 x 2 = 2.4 (this is where I’ve gone wrong…should not have times it by 2. The duration of the fixed side is simply 1.2). I’m not getting this because in the CFAI text examples, the fixed duration is always x by the number of years in the swap. Am I missing something?

Thanks!